Posts Tagged ‘Cryptonight fork’

The controversy surrounding the release of a number of CryptoNight ASIC miners from various manufacturers and the upcoming fork of Monero (XMR) and some other crypto coins to a new ASIC-proof CryptoNightV7 algorithm continues. NiceHash has recently announced that they will continue to support both the old CryptoNight as well as the new CryptoNightV7 algorithms. The service should add support for the new V7 algorithm by the end of the month, probably before the Monero fork planned to happen later this month. Furthermore a new NiceHash Miner that will bring support for the CryptoNightV7 algorithm should also be available soon, so while the updated POW algorithm will be ASIC-proof you would still be able to rent a lot of GPU hashpower apparently.

Other crypto coins that are using the same cryptoNight proof of work mining algorithm are expected to follow suit and also fork to the new ASIC-proof version of CryptoNight, though it would most likely take them some extra time. There are some coins that have already announced their plans to do a hard fork and follow in the footsteps of Monero (XMR), others are still considering and of course there will be some for sure that will remain on the old algorithm that can be mined using the upcoming wave of CryptoNight ASIc miners. Still going for a CryptoNight ASIC miner at the moment is considered very risky and will most likely cost you much more that you would be able to mine back, though there are no guarantees.

We are not surprised by the announcement from Halong Mining about their new DragonMint X1 and DragonMint X2 Cryptonight ASIC miners as the company had already mentioned on twitter a few days ago that they will be releasing such miners. The Halong Mining DragonMint X1 miner should be capable of 124 KH/s hashrate with 245W power usage, costs $1714 USD with a power supply and should start shipping in April 25-30. The more Halong Mining DragonMint X2 miner, as the name suggests, should be offering double the performance or with other words 248 KH/s at 490W of power usage at a slightly better price than ordering two X1 miners – $3115 USD with a power supply and shipping should also start by the edn of next month (April).

This offer is more like a real competition to Bitmain’s X3 Cryptonight ASIC miners performance wise and at a much better price and shipping earlier. What is there not to like in some real competition on the Cryptonight ASIC miners, but then again these devices might also end up as expensive door holders as well by the time they start shipping. With Monero (XMR) and other Cryptonight-based crypto currencies announcing plans to fork to a new version of the algorithm that should make them ASIC proof again things are not looking very favorable for ASIC miners. So again a word of warning if you are interested in the recent wave of Cryptonight ASIC miners, be extra careful when making your plans should you decide to order any of the miners already available or coming soon to the market.

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